Criminal embezzlement is the act of stealing assets by someone trusted to protect them, involving premeditation and covering up the process. The offender must have had legitimate possession of the property at the time of the crime. Embezzlement can be committed on small or large scales and often involves forging documents or using shell companies.
Criminal embezzlement is the act of stealing property or other assets. The person who is stealing is usually someone they trust to protect those assets or otherwise keep track of them. It is considered financial fraud and usually involves some degree of premeditation. The person committing criminal embezzlement has usually devised some sort of plan to cover up the process so they are not caught in the act. Criminal embezzlement can be committed on very small or large scales, depending on the amount or size of the misappropriated assets or the extent to which the embezzler stole the assets.
The definition of criminal embezzlement can be complicated and varies from situation to situation. The person who commits the crime must knowingly seize property over which he has no legitimate right. The criminal must have committed the crime knowing that the property was not his. The criminal must have knowingly prevented the true owner of the asset or property from using or obtaining his property. The most important aspect of criminal embezzlement is that the offender or alleged criminal must have been in legitimate possession of the property at the time of the crime. If the offender did not have lawful possession of the property, the offense is considered theft, not embezzlement.
An example of a criminal embezzlement would be a banker embezzling funds from customers. By taking the customer’s money, the banker has rightful possession of that money. If he embezzles money from that client’s deposit into his own pockets or accounts, it is considered embezzlement. Another example would involve using those funds for other purposes not directed by the real owner. If the owner of the funds places the money in an account and the bank or banker uses those funds for another purpose, it is embezzlement.
Embezzlement can be a difficult crime to pull off, and most embezzlers have to forge documents to continue embezzling. Successful embezzlers often embezzle property or funds over an extended period of time, so losses aren’t immediately apparent, although other embezzlers may take property or assets in large lump sums. Shell companies are often used in embezzlement; false invoices can be sent to a company and paid for with company checks. Those checks are then cashed by a company that doesn’t exist, thus using the funds for purposes other than those intended.
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